Haynes International (NASDAQ:HAYN) Sees Strong Trading Volume – Still a Buy?

Shares of Haynes International, Inc. (NASDAQ:HAYN) saw strong trading volume on Friday . 127,952 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 156,601 shares.The stock last traded at $60.96 and had previously closed at $60.62.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Haynes International in a research note on Saturday, October 12th. They set a “hold” rating on the stock.

Haynes International Trading Up 0.5 %

The company has a current ratio of 7.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.22. The company has a market cap of $778.69 million, a PE ratio of 20.95, a PEG ratio of 0.74 and a beta of 1.39. The stock has a 50 day moving average price of $59.81 and a 200 day moving average price of $59.45.

Haynes International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, August 30th. Haynes International’s dividend payout ratio (DPR) is presently 30.24%.

Insider Transactions at Haynes International

In other news, CFO Daniel W. Maudlin sold 6,744 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $59.66, for a total value of $402,347.04. Following the sale, the chief financial officer now directly owns 30,287 shares of the company’s stock, valued at $1,806,922.42. The trade was a 18.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Haynes International in the first quarter worth $114,000. BNP Paribas Financial Markets grew its position in Haynes International by 8.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,775 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 220 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in Haynes International during the 2nd quarter valued at about $526,000. Nisa Investment Advisors LLC increased its stake in Haynes International by 71,414.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,030 shares of the basic materials company’s stock valued at $1,469,000 after purchasing an additional 24,995 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Haynes International by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 31,845 shares of the basic materials company’s stock worth $1,915,000 after buying an additional 4,605 shares during the last quarter. Institutional investors own 97.31% of the company’s stock.

About Haynes International

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.